"We're committing significant resources and a great deal ofenergy to totally upgrading this magnificent property located in agreat setting," Murray L. Dow II, founder and president ofSeattle-based Dow Hotel Co., said in this morning's press release.Representatives from Dow Hotel could not be reached by press timeto discuss the acquisition of the resort at 9800 Westover HillsBlvd.

Dow said marketing will focus on meetings and social events. Theresort boasts 10,000 sf of flexible meeting space. The asset islocated in the area's northwest quadrant, not far from Sea World,Fiesta Texas and several corporate headquarters. Additionally, thesubmarket has been a magnet for residential and retail developmentduring the past two years.

Mark Rosinsky, Dow Hotel's senior vice president of hotelinvestments, said the company continues to look for investmentopportunities. In early August, Dow bought the 369-room DoubletreeHotel Chicago O'Hare-Rosemont at 5460 North River Rd. in Rosemont,IL, also in partnership with Prudential.